Oct 201518

Much of Winchester Market Sees Median Sale Prices Increase in September 2015

Oct 201518

Much of Winchester Market Sees Median Sale Prices Increase in September 2015

Market Minute LogoSome areas of the Winchester real estate market enjoyed an increase in median sale price and the number of homes sold in September, according to The Long & Foster Market Minute reports. The greater Winchester, Va., real estate market includes FrederickShenandoah and Warren counties and the city of Winchester. The Long & Foster Market Minute reports are based on data provided by Metropolitan Regional Information System and its member associations of Realtors and include residential real estate transactions within specific geographic regions, not just Long & Foster sales.

Winchester MM Sept2015

In September, median sale prices increased in most of the Winchester region, with Winchester City experiencing an increase of 28 percent and Frederick County seeing a 9 percent increase compared to the previous year. Median sale price increased by 2 percent in Warren County and decreased by 19 percent in Shenandoah County.

The number of homes sold increased in much of the Winchester region in September compared to the same month in 2014. Frederick County saw a 14 percent increase, followed by Winchester City with a 3 percent increase. Shenandoah County experienced a 2 percent increase compared to last year and Warren County experienced an 11 percent decrease.

In the Winchester region, active inventory decreased by 12 percent in Warren County and by 11 percent in Shenandoah County. Winchester City experienced a 10 percent drop in inventory, and Frederick County saw a 6 percent increase compared to the same month the previous year.

Homes in the Winchester area are continuing to sell at a steady pace according to September data. Frederick County saw the lowest days on market (DOM) average at 67 days, followed by Winchester City at 75 days. Warren County had a DOM average of 78 days and Shenandoah County experienced a DOM average of 135 days.

“Though many are still concerned for economic growth in China, The United States economy is continuing to grow and the job market is steadily improving. The stability in the U.S. was also reflected in the real estate market, including locally,” said Jeffrey S. Detwiler, president and chief operating officer of The Long & Foster Companies. “In the Winchester region, we continued to see improvements in the number of homes sold and median sale prices, and we anticipate a healthy last few months of 2015.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested.    Information included in this report is based on data supplied by MRIS, which is not responsible for its accuracy. The reports do not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc.